Global Carboxymethyl Cellulose Market Size, Trends & Analysis - Forecasts to 2026 By Application (Food & Beverage Industry, Pharmaceutical Industry, Cosmetic Industry, Agriculture, Paints & Coatings, Oil & Gas Companies, Paper & Board Industry, Detergent Industry, and Other Applications) By Region (Europe, North America, MEA, Asia Pacific, and CSA); Vendor Landscape, Company Market Share Analysis, End-User Landscape, and Competitor Analysis
Carboxymethyl Cellulose Market Insights
The carboxymethyl cellulose market will have a moderate growth rate of around 4.5% from 2020 to 2026. Being a derivative of cellulose, and also popularly known as cellulose gum, is a scentless, artificially steady, tasteless, and physiologically dormant or inert material. It is innocuous to the climate, non-poisonous in nature, and hypoallergenic, and hence is considered safe for human use and therefore has wide application in various industries. CMC is prepared using plant-based cellulose, mono chloroacetic acid, and caustic soda which then offers to be a perfect fit as a binder, stabilizer, thickening agent, and dispersant in various verticals such as paper making industry, food industry, agriculture, drug and drug discovery sector and so on. The major factors driving the adoption of this chemical in the market are rapidly increasing the oil & gas industry and sudden growth in the pharmaceutical industry in terms of both volume and value of specialty drugs, the rising consumption of processed and packaged food in the major Asian and South American countries. Furthermore, the Paper industry is another critical application area of the CMC business in the U.S. Vigorous per capita utilization of paper combined with rising exercises in regards to paper reusing will impel the CMC market in the forecast period.
Carboxymethyl Cellulose Market: By Application
Based on the industrial vertical or potential end-users or applications of CMC, the market can be largely segmented into the pharmaceutical industry, food & beverage industry, cosmetic industry, paints & coatings, agriculture, oil & gas companies, detergent industry, paper & board industry, and other applications. The food and beverage industry will still be the largest share in the entire CMC industry owing to the rapidly increasing consumption of processed, packaged, and bakery food products in major markets across the world.
Carboxymethyl Cellulose Market: By Region
CMC market revenue will have its major share coming from North America and the European region. The reason being, the use of water-soluble CMC is a highly consumed product such as bakery food items, frozen foods, alcohol, etc. The majority of the consumption share is contributed from North America and the European region which will help them maintain their high market position from 2020 to 2026. Moreover, it plays a vital role in the water-retention capacity of the bakery food products and also increases their shelf lives leading to efficient food travel management. The multifunctional part of CMC is the key factor that is probably going to support its market development in the food and refreshment applications. However, the market will grow the fastest for the Asia Pacific region owing to the rapidly growing Pharma industry, personal care industry, and agricultural sector in the South East Asian countries, high revenue generation from the cosmetic industry from countries like South Korea, Japan, and Australia, India, and China and low manufacturing cost of CMC plants.
Carboxymethyl Cellulose Market Share and Competitor Analysis
CP Kelco U.S., Inc., Nouryon, Akzo Nobel N.V., Ugur Seluloz Kimya A.S, The Dow Chemical Company, Química Amtex S.A. De C.V, DKS Co. Ltd., Daicel Corporation, Nippon Paper Industries Co. Ltd, Lamberti S.P.A., and Ashland Inc. among others are the prime players in this market
Please note: This is not an exhaustive list of companies profiled in the report.
In June 2020, Nouryon acquired the product line/ business of carboxymethyl cellulose (CMC) from J.M. Huber Corporation. This has helped Nouryon to enter the market and enhance its product base for CMC.
In March 2019, Nippon (Paper Industry) announced the expansion and construction of a new manufacturing facility for their product namely SUNROSE, a CMC based item.
Check the Press Release on Global Carboxymethyl Cellulose Market Report
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The Global Carboxymethyl Cellulose Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Carboxymethyl Cellulose Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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